Financial services briefs

JPMorgan will accept physical gold as collateral to satisfy securities lending and repo obligations with counter-parties. “Many clients are holding gold on their balance sheets as an inflation hedge and are looking to make these assets work for them as collateral," said John Rivett, a collateral management executive at JPMorgan Worldwide Securities Services. The firm expects to accept additional precious metals as collateral later in the year.

Computer and office equipment financing firm
ThinkSmart
has signed an operating agreement for $160 million in new facilities, comprising a £40 million revolving facility with Secure Trust Bank and a $100 million securitisation facility from a major Australian bank.

Clime Capital
posted a 70 per cent decline in first-half net profit to $4 million and declared a one-for-20 bonus share issue. An interim dividend of 1¢ a share was paid on January 25.

Firstfolio
posted a 25 per cent increase in net profit to $2.8 million for the six months ended December 31. The company acquired two businesses: Club Financial Services and Apple Loans.

Global Mining I
nvestments incurred a net loss of $243,000 for the six months ended December 31. An interim dividend of 2¢ a share, fully franked, will be paid on March 21. Edited by Vesna Poljak